In this article, we will provide a list of the best consulting firms in Kazakhstan, Hungary’s strategic partner in Central Asia. Before going to the list, we will briefly introduce you to the country.
Kazakhstan, country profile
Kazakhstan is the 9th largest country in the world and the largest landlocked country with a very low population density. It is located in Central Asia and Eastern Europe. The most developed cities are Nur-Sultan and Almaty. Nur-Sultan is the current capital of Kazakhstan, situated in the north-central part of the country. Almaty is the financial, economic and science hub, located in the south of the republic. From 1936 to 1991 it was a part of the Soviet Union. Since declaring its independence in 1991, Kazakhstan has experienced remarkable economic performance and has been able to transit into an upper-middle-income economy. Kazakhstan is rich in mineral resources, and the country’s economy is based heavily on extractive sectors, particularly on the crude oil and gas extraction industry.
The main destination for the import/export of Kazakhstan
Kazakhstan is an important player in the world economy with vast potential. The country is engaged in trade with European, Asian and Middle Eastern countries. According to the Bureau of National Statistics, Kazakhstan’s primary export destinations in 2020 were China (20% of total export supply), Italy (14%), Russia (11%), Netherlands (7%) and Uzbekistan (4%). More than 50% of its exports are oil and natural gas. Also, Kazakhstan exports various metals and chemicals. In 2020 Kazakhstan imported mainly from Russia (35% of total import), China (16%), South Korea (13%), Germany (5%), and the US (3%). Imports mainly include machinery, vehicles, equipment, and pharmaceutical products.
Inward foreign direct investment in KazakHstan
Kazakhstan is an attractive investment destination. The oil and gas, natural resources and extractive industries continue to remain the most attractive sectors for foreign investments. Over the last years, the major investors in Kazakhstan have been the Netherlands, followed by the US, Switzerland and China. According to the National bank of Kazakhstan, in 2020 the country received about 17 billion US dollars of Foreign Direct Investment (FDI) from more than 50 countries. Kazakhstan receives the bulk of FDI among other Central Asian countries. The government of Kazakhstan continuously works to improve the investment climate in order to attract more FDI to support national development. This includes a series of reforms and specific measures such as tax reduction, state subsidies, partial or total exemption from duties and taxes on equipment and other materials.
economic relations between Hungary and Kazakhstan
Hungary and Kazakhstan are strategic partners, and bilateral ties between the two countries are expanding. Kazakhstan remains a reliable partner of Hungary in Central Asia. An extensive regulatory framework has been established between the two countries, as have stable trade and economic ties.
The trade turnover between the two countries in 2020 accounted for about 111.8 million US dollars. Kazakhstan primarily exported natural gas to Hungary and mainly imported pharmaceutical products.
Over the past 10 years, Hungary has invested 226 million US dollars in Kazakhstan’s economy. There are 29 companies with Hungarian capital and 41 Kazakh-Hungarian joint ventures operating in Kazakhstan today.
List of top consulting firms operating in Kazakhstan
Consulting companies are independent parties that provide expert advice or implementation services on a matter that their clients struggle with. The consulting industry consists of different functional areas such as business strategy, management, organisation, operational processes, technology and others. Involving a consultancy firm can be more cost-effective than hiring experts themselves.
Sustainability consulting services provide expert advice for organizations to develop and implement strategies that maximize profits and efficiency while reducing an organization’s environmental footprint and becoming more socially and environmentally responsible.
Rödl & Partner Kazakhstan since 2009 provides comprehensive audit, legal, tax, management and IT consulting services in Kazakhstan. The team of Rödl & Partner Kazakhstan consists of multilingual Kazakh and German lawyers, auditors, and tax consultants who assist their clients in all investment and project-related matters in Kazakhstan.
Lira-Audit LLP is one of Kazakhstan’s leading firms specializing in audit, consulting and tax services with a dynamic team of highly competent and experienced experts able to adapt to all external changes. Lira-Audit LLP provides all services in accordance with the highest professional ethical standards. In 2016 the National Business Rating in Kazakhstan recognized Lira-Audit LLP as an “Industry Leader” firm and in 2017 it was awarded the “Leader of the year” status, confirming the financial and economic success of the company and its high business reputation.
Independent Audit Company Centeraudit-Kazakhstan LLP is one of the largest audit companies in Kazakhstan was established in 1992 and provides a wide range of first-class services to local and foreign investors. Following the results of republican contests “Choice of the Year” in 2000 and 2001, the company became the winner in the nomination “Audit company of the Year in Kazakhstan” and was awarded the gold medal. The mission of the company is to serve the interest of society by delivering competent auditing services based on professional, reasonable, well-founded, and impartial judgment. The company is a member of HLB International, a global network of independent advisory and accounting firms.
Russell Bedford BC Partners is one of the 7 best Audit companies in Kazakhstan. The company was established in 2008. It provides audit, accounting, tax and accounting advisory services. The team consists of specialists who have extensive work experience in large enterprises and in-depth knowledge of accounting, tax, currency and civil legislation. The company is able to audit international companies and ensures the highest quality of services.
The list of companies that provide sustainability consulting services in Kazakhstan
|BCG (Boston Consulting Group) |
Center for research and consulting
Develop Group KZ
Kazakhstan training and consulting center
Ernst & Young Global Limited
TQCS International (TQCSI)
Regional Environmental Center for Central Asia (CAREC)
CSR Kazakhstan Foundation
ECO Socia Analyst
ADAMANT PROJECT STROY Ltd.
Khoreshkov and partner
If you want to find more information about the best consulting firms around the world, check the TAX & LEGAL EXPLORER database. It collects the world’s finest like-minded tax, legal and accounting firms, or as we call it: “The Golden Selection”. The database provides a list of expert companies that use an international mindset and provide high-quality services that you can rely on.